RIYADH: Saudi Arabia’s consumer spending jumped to above $4 billion in the week ending Oct. 31, rebounding from two straight weekly declines, as education-related transactions surged more than 80 percent, official data showed. 

The Kingdom’s point-of-sale transaction value totaled SR15.41 billion ($4.1 billion), up 30.8 percent from the previous week, while the number of transactions rose 15.6 percent to 264.93 million, according to data released by the Saudi Central Bank, also known as SAMA.

The increase followed back-to-back weekly falls, with spending down 6.8 percent in the week ending Oct. 17 and 6.5 percent in the week ending Oct. 24. 

Education-related outlays recorded the sharpest sectoral gain, climbing 81.5 percent week on week to SR123.45 million, while the number of education-related transactions increased 29.3 percent.

Telecommunications spending followed, rising 60.7 percent to SR302 million. 

Economist Talat Hafiz told Arab News that the increase was primarily driven by payday. “Once salaries are paid, consumers tend to resume spending and replenish goods and household supplies they have used.” 

He added that after two weeks of decline, some purchases may also have been postponed until wages were received, contributing to the sharp rebound. 

Sectoral breakdown 

Spending on food and beverages amounted to SR2.8 billion, up 39.6 percent week on week. 

POS activity at restaurants and cafes reached SR1.9 billion, up 21 percent, while spending on apparel, clothing and accessories totaled SR1.29 billion, up 47.4 percent. 

The transportation sector recorded POS transactions worth SR1.1 billion, up 32 percent, and outlays at gas stations reached SR1.11 billion. 

Healthcare-related transactions totaled SR961.19 million, while spending on professional and business services amounted to SR745.24 million. 

Jewelry also stood out, with transactions rising 44.9 percent week on week to SR619.65 million.

Hotels recorded the weakest growth among the major sectors, with spending up 7.3 percent to SR237.84 million. 

Geographic breakdown 

Spending rose in every city tracked by SAMA, with Riyadh accounting for the largest share of transactions.

Outlays in the capital reached SR5.33 billion, up 26.5 percent from the previous week, while the number of transactions rose 13.5 percent to 88.08 million. 

Jeddah recorded POS transactions worth SR1.97 billion, an increase of 23.2 percent, while the total number of transactions stood at 29.21 million. 

In Dammam, POS spending totaled SR747.86 million, up 24.3 percent, followed by Madinah at SR611.92 million and Makkah at SR586.90 million. 

Hafiz noted that the broad-based rise across cities and sectors suggested a timing effect rather than growth driven by one particular category.